Saturday, 20 December 2014
Last updated 21 hours ago
Dec 11 2008 | 12:52pm ET
Quantitative multi-strategy hedge fund Horton Point has retained Dmitry Udler to advise it on re-engineering its risk management process. Udler was formerly executive director and head of market risk measurement and back testing at JPMorgan Chase.
Prior to his tenure at JPMorgan, Udler served as head of market risk research and methodology at HSBC Securities and head of quantitative credit at BlackRock.
“The recent market events have clearly shown us how inadequate the so-called ‘industry-standard’ risk management practices are,” said Dimitri Sogoloff, president and CEO of Horton Point. “None of the conventional risk measures, like Value at Risk or stress testing would have helped avoid significant drawdowns in the second half of 2008. Even the most sophisticated players with vast resources showed significant losses as their risk systems failed to react properly. We believe that the standard risk processes should be supplemented by a better understanding of market liquidity and sentiment. A new math is needed to deal with these problems and it’s going to take a lot of research. We are hoping that with Dr. Udler’s help we will get there sooner than most.”
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.